Ann: September Quarter Trading Update-CM8.AX, page-71

Personal view is that Dom needed to raise the money for whatever reason (mainly working capital is my guess), and he knew subscription was in decline and that was the last chance he could raise at 16c in the short term so he did it. That was for the benefit of existing shareholders.

Long term gain for short term pain.

And the fact that he knew all along sales were not strong but still underwrote the 600k equity raising with theo gives me comfort.

13c is probably not the bottom but I don't care about ST too much.